My thoughts...
HD has to go. He is essentially a symbol of how it all went wrong, which is why the media keep putting him front and centre.
It's not only that. HD has shown no regard for Magellan - deserting it when it was crumbling... dumping the stock...
I am not sure about the name change or rebranding. That can go two ways.
When I look around at which managers are successful and still bringing in FUM - they offer something different - something the regular investor either can't access or it's out of their skill range.
IMO Magellan needs to pivot towards these alternatives, and not just buy US mega caps. Anyone can replicate their major funds through an app on their phone.
Regal and L1 are two good examples of managers offering something unique to the market.
Let's face it. You can't just park money in mega caps and charge a premium. On top of that, when an index fund is beating you - you are essentially screwed.
Valuation still looks convincing, page-120
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Last
$10.44 |
Change
0.160(1.56%) |
Mkt cap ! $1.866B | |||
| Open | High | Low | Value | Volume |
| $10.37 | $10.64 | $10.37 | $8.779M | 835.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 4684 | $10.41 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.47 | 1 | 1 |
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| Last trade - 16.10pm 10/10/2024 (20 minute delay) ? |
| MFG (ASX) Chart |